TD Bank reports $3.17 billion Q2 profit up from $2.92 billion a year ago
TORONTO - TD Bank Group earned a second-quarter profit $3.17 billion, up from $2.92 billion in the same quarter last year.
The Toronto-based lender says the profit amounted to $1.70 per diluted share for the quarter ended April 30, up from $1.54 per share per share a year ago.
Provisions for credit losses in the quarter totalled $633 million, up from $556 million a year ago.
On an adjusted basis, TD says it earned $1.75 per share in the quarter, up from an adjusted profit of $1.62 per share in its second quarter last year.
Analysts on average had expected a profit of $1.67 per share, according to Thomson Reuters Eikon.
TD reported its Canadian retail business earned $1.85 billion, up from $1.83 billion a year ago, while its U.S. retail business earned $1.26 billion, up from $979 million. Profit at its wholesale banking business fell to $221 million, compared with $267 million a year ago.